Guide
Pacific Life
Pacific Life no longer offers hybrid long-term care insurance under its Premier Care product names. Hybrid long-term care insurance is still an attractive option for many people. These policies are a popular alternative to traditional "use it or lose it" coverage: they pay long-term care benefits if you need them, or a death benefit to your beneficiaries if you don't, so your premiums are put to use either way.
Since Pacific Life no longer sells hybrid long-term care products, look at the other reputable insurance companies offering similar products. Before you buy, compare features, benefits and pricing across providers, and talk with a qualified financial professional for personalized advice.
Beyond the products themselves, check the financial strength and reputation of each insurer. Ratings from agencies such as A.M. Best, Moody's, Fitch and S&P Global help you gauge an insurer's stability.
Have an Old Pacific Life Quote?
There are many better options today than what Pacific Life offered in the past. If you already have Pacific Life coverage in place, it is not worth replacing. If you're still shopping, compare the companies selling plans today.
What Was Premier Care?
Premier Care was a series of hybrid long-term care products Pacific Life offered before discontinuing them. They combined life insurance with long-term care benefits, with features such as linked benefits, return of premium and inflation protection.
Because Premier Care is no longer available, you'll need to look at other providers for hybrid coverage. Research and compare policy features, benefits and costs to find the best fit.
What to Look For in a Hybrid Policy
When shopping for a hybrid long-term care policy, pay attention to:
- Coverage options: Make sure the policy covers a wide range of care services, including home care, assisted living and nursing home care.
- Waiting period: Check whether there's a waiting period before benefits are paid, and how long it lasts. It can range from 0 to 90 days, and some companies, like Nationwide, make you wait 90 days but then pay back to day 1.
- Inflation protection: Look for policies that offer inflation protection to help keep pace with the rising cost of long-term care.
- Customization: See whether the policy can be tailored to your needs and preferences.
- Underwriting process: Understand how underwriting works, including any required medical exams or documentation.
- Eligibility requirements: Review the age and health requirements, plus any discounts for couples, non-smokers or other factors.
Weighing these factors with a financial professional will help you choose the right hybrid long-term care policy for your needs.
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